Requisites

Additional Requirements

BMAN10621(A) or (B) is a pre-req for BMAN10632.
BMAN10632 is a free choice option for students with prior agreement from their home schools. Core for MathswFinMath (2nd year).

Pre-requisite course units have to be passed by 40% or above at the first attempt unless a higher percentage is indicated within this course outline. If the pre-requisite unit is defined as a compulsory course unit within your programme of study (Maths with Finance, IBFE, Accounting, BA Econ pathways for example) then progression onto the dependent unit is permitted as long as you have gained the appropriate amount of credit to progress on to the following year of your registered undergraduate programme.

Aims

This course unit aims to give students an understanding of the fundamental principles and concepts involved in management accounting from the perspective of business decision makers rather than accounting specialists. It aims to introduce techniques of how to produce useful information, how to analyse that information to help a business plan and control its activities, and to assist in making informed decisions in various commercial circumstances.

Learning outcomes

• Explain and discuss the differences between financial accounting and management accounting. Discuss the types of decisions where management accounting can provide useful information.

• Understand cost behaviour in relation to output; calculate break-even point and margin of safety. Use marginal analysis and relevant costing technique to make a variety of short-term business decisions.

• Calculate the full cost using the traditional and activity based costing approaches.

• Explain the interlinking of various budgets within a business, prepare budgets and conduct basic variance analysis, and discuss the limitations of budgets for performance evaluation.

• Consider non-financial information for different types of industries and scenarios and use this information to evaluate performance and make informed business decisions.

Assessment Further Information

20% : coursework during the semester. The coursework consists of homework prepared for workshops, presentation and mid-term test. Non-submission of homework is penalised by marks deducted from the final grade.